Investors who track insiders' activities won't find much to like at Genesco lately. In the past week, five of the shoe and hat retailer's top executives have unloaded more than $4.8 million worth of their shares as that paper (Ticker: GCO) has climbed to its highest levels of 2013. Here's a rundown:
• Jim Estepa, boss of Genesco's retail group, sold more than $1.5 million worth of shares, trimming his holdings by a fifth.
• CFO Jim Gulmi unloaded just over $1 million of stock, roughly 8 percent of his stake in the company.
• General Counsel Roger Sisson exercised 20,000 options and sold the resulting shares for a profit of $1 million.
• Ken Kocher, president of Hat World, added more than $760,000 to his bank account by selling a seventh of his stock holdings.
• Chairman, President and CEO Bob Dennis unloaded almost $570,000 worth of his stock. Of the sales, only his was consummated under the umbrella of a trading plan.
The execs' sales came two weeks after Genesco reported better-than-expected fiscal first-quarter numbers. It's worth noting that the consensus EPS estimate among analysts tracking the company has risen only 5 cents since, whereas the company's Q1 was 9 cents better than expected.
POSTDATA: WARRANTY DEEDS